OK Blockchain 60 Lectures | Episode 30: What is the relationship between Bitcoin and Blockchain?

OK区块链商学院

特邀专栏作者

2020-05-06 19:15 (UTC+8)

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It only takes a minute to understand the blockchain.

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It only takes a minute to understand the blockchain.

Hello everyone, I am Mr. K. Today we are going to talk about: "What is the relationship between Bitcoin and the blockchain"?

Bitcoin has a deep relationship with the blockchain. Because the concept of digital currency is to be implemented, the application technology of the blockchain is created, but because the blockchain technology is the underlying foundation, the payment of Bitcoin Ideals become reality. To sum it up in one sentence, the blockchain was born because of Bitcoin, and Bitcoin is an application of the blockchain.

In fact, at the very beginning, the concept of digital currency was proposed by a group of technical geniuses. They began to explore the direction of digital currency early on. For example, the first digital currency e-gold began to operate in 1996. Two years earlier than PayPal, the world-renowned payment giant, digital currencies such as DigitalMonetaryTrust and Ven are all early exploration products, but unfortunately they all ended in failure.

However, during the period from 1990 to 2007, with the continuous exploration of geeks, many technologies have developed by leaps and bounds. For example, in 1997, the HashCash method designed by cryptographer Adam Back laid the foundation for the POW consensus mechanism. In 1998, Szabo proposed the smart contract theory. During the three years from 1999 to 2001, Napster, EDonkey2000 and BitTorrent appeared one after another, laying the foundation for P2P network computing. And the core technology of the blockchain was released one by one during this period.

It was not until 2008, with the birth of Bitcoin, that the mainstream basic direction of digital currency based on encryption and cryptography was established. The concept of digital currency also began at this time, and it was not well known to the public. And Bitcoin has had a huge impact on the current blockchain system, because Satoshi Nakamoto endowed the blockchain with a particularly important property in the process of implementing Bitcoin, which is decentralization.

At first, Satoshi Nakamoto, the founder of Bitcoin, just wanted to design a digital currency, but when designing the underlying data infrastructure, he made a very important decision: he abandoned the traditional centralized database model and borrowed On the basis of predecessors, a set of strong decentralization underlying mechanism has been designed. This mechanism allows everyone to participate, with equal authority, without the intervention of a centralized team or institution. Once the data is recorded, it cannot be changed at all. And this feature enables Bitcoin to realize a truly decentralized team operation.

Later, with the passage of time, people found that the advantages of this mechanism of Bitcoin became more and more obvious. Even if the founder disappeared, it could continue to operate stably, so everyone extracted this underlying mechanism from Bitcoin separately. , conduct research, and there is the term blockchain technology.

In general, the relationship between Bitcoin and the blockchain is like a chicken and an egg. It is precisely because of the existence of the blockchain that Bitcoin can run smoothly, and it is precisely because of the existence of the Bitcoin As an application, the veil of the blockchain can be lifted, and we usher in a blockchain 1.0 era represented by digital currency.